Code of the District of Columbia

§ 26–1401.27. Termination of conservatorship.

(a) If the Commissioner determines that termination of the conservatorship and resumption of the transaction of the universal bank’s business by the universal bank can be achieved and maintained in a safe and sound manner and is otherwise in the public interest, the Commissioner may petition the Superior Court to terminate a conservatorship and permit the universal bank to resume the transaction of its business, subject to terms, conditions, restrictions, and limitations as the Commissioner determines are appropriate.

(b) If the Superior Court determines that reasons for the conservatorship no longer exist, the Superior Court may dissolve the conservatorship and terminate any pending proceedings.

(c) If the Commissioner determines that it would be in the public interest, the Commissioner may petition the Superior Court for termination of a conservatorship and appointment of a receiver for the universal bank under § 26-1401.20.


(June 9, 2001, D.C. Law 13-308, § 227, 48 DCR 3244.)